Like all of us, though few so visibly, Alan Greenspan was forced by the financial crisis of 2008 to question some fundamental assumptions about risk management and economic forecasting. No one with any meaningful role in economic decision making in the world saw beforehand the storm for what it was. How had our models so utterly failed us?
To answer this question, Alan Greenspan embarked on a rigorous and far-reaching multiyear examination of how homo economicus predicts the economic future, and how it can predict it better. Economic risk is a fact of life in every realm, from home to business to government at all levels. Whether we're conscious of it or not, we make wagers on the future virtually every day, one way or another. Very often, however, we're steering by out-of-date maps, when we're not driven by factors entirely beyond our conscious control.
The Map and the Territory is nothing less than an effort to update our forecasting conceptual grid. It integrates the history of economic prediction, the new work of behavioral economists, and the fruits of the author's own remarkable career to offer a thrillingly lucid and empirically based grounding in what we can know about economic forecasting and what we can't. The book explores how culture is and isn't destiny and probes what we can predict about the world's biggest looming challenges, from debt and the reform of the welfare state to natural disasters in an age of global warming.
No map is the territory, but Greenspan's approach, grounded in his trademark rigor, wisdom, and unprecedented context, ensures that this particular map will assist in safe journeys down many different roads, traveled by individuals, businesses, and the state.
by Jeffrey D. Sachs, Bono
by Alan Greenspan
by Alan Greenspan, Adrian Wooldridge
by Alan Schroeder
by Alan Rabinowitz
by Alan Smale
by Alan Axelrod
by Alan Furst
by Alan Chambers
by Alan Moore
by Alan Brennert
"Greenspan provides a fascinating critical review of how economics as a field can be improved using current technology and the knowledge afforded to humans in the last 40 years. The complex conversation is rendered accessible through the skillful voice of Malcolm Hillgartner. Economics is a challenging subject for most, and though Greenspan attempts to make it accessible, it really is Hillgartner who balances his use of emphasis and pace to help listeners following the nuanced elements of the material. His grasp of GreenspanÕs prose and conversational tone will be appreciated. It also helps that Hillgartner has a deep, reverberating voice that draws listenersÕ attention. L.E. © AudioFile 2013, Portland, Maine"
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